United States Ambassador David C. Mulford and Foreign Secretary Shiv Shankar Menon signed a historic new Fulbright agreement on July 4, 2008, strengthening educational exchanges between India and the United States.
Under the new Agreement, the Government of India and the United States shall henceforth implement the scholarship program as full partners and increase by 100% the total scholarship amount awarded annually.
The new Agreement provides for expansion of the existing program with, for the first time, (i) a direct financial contribution by the Government of India, (ii) Government of India co-chairing the Board of Directors of the Foundation and (iii) participating equally in policy and decision-making on the exchange of Indian and U.S. scholars under the India-U.S. program.
The Foundation will now be called the "U.S.-India Educational Foundation" awarding "Fulbright-Jawaharlal Nehru Scholarships and Grants".
The programs of the Foundation will continue to finance (i) studies, research, instruction and other educational activities of/for U.S. citizens and nationals in India and Indian citizens and nationals in U.S., (ii) visits and exchanges of students, trainees, teachers, instructors and professors and (iii) other related educational and cultural programs and activities.
Both Governments have agreed to endeavour to see that the Foundation's programs and activities, research and studies will complement the bilateral initiatives announced by the U.S. and Indian Governments on July 18, 2005 and March 2, 2006 in the areas of agriculture, science and technology, sustainable development, clean and efficient energy, environment, climate change, democracy and capacity building in emerging democracies and global issues of common concern - among others - and create further awareness and understanding of India in the U.S.A. and vice versa, strengthening the 'knowledge' linkages between the people of the two countries.